Hope Medicine Inc. Completes $56 Million Series B Financing to Accelerate Global Innovative R&D Platform

VCBeat (WeChat: vcbeat) has learned that Hope Medicine Inc. (“Hope Medicine”) recently announced the completion of a $56 million Series B financing round. The round was co-led by Qiming Venture Partners and Yuanyi, with participation from Honghui Capital and Innovation Works. Existing investor Trust Bridge Partners continued its support, while HAOYUE CAPITAL served as the exclusive financial advisor for this round. The investment will provide strong support for Hope Medicine’s upcoming international Phase II MRCT clinical trials and pipeline development.

Hope Medicine is a science-driven innovative drug R&D company dedicated to source innovation. With its China headquarters in Nanjing, the company also maintains R&D bases and offices in Shanghai and Beijing. Founded by Professor Xiao Ruiping, Dean of the School of Future Technology at Peking University and Deputy Editor-in-Chief of The New England Journal of Medicine, Hope Medicine adheres to the founding philosophy of “In China, for Global.” The company has built an international professional team committed to addressing unmet global clinical needs with first-in-class novel drugs.

Focusing on the three major therapeutic areas of women’s health, endocrinology, and cardiovascular diseases, HOPE MEDICINE addresses current unmet clinical needs by further building a diversified R&D pipeline through a dual-driven model of independent research and development and License-in.

Previously, Hope Medicine signed a global exclusive license agreement with Bayer AG for the development and commercialization of monoclonal antibodies targeting the prolactin (PRL) receptor. Potential indications for this antibody include male and female pattern alopecia, endometriosis, and other chronic diseases. Under the licensing agreement, Hope Medicine will leverage Bayer’s intellectual property to develop and commercialize novel antibodies targeting the PRL receptor worldwide. Currently, HMI-115 has completed Phase I clinical trials in the European Union, demonstrating a favorable safety profile, and is poised to initiate global multicenter Phase II clinical trials for androgenetic alopecia and endometriosis.

Professor Rui-Ping Xiao, Founder, Chairman of the Board, and CEO of HOPE MEDICINEstated, “We boast a leading biomedical team, robust global intellectual property rights, and an unwavering commitment to delivering the finest medicines to the global market. The R&D of innovative drugs in China has now reached a stage where we are bold enough, capable enough, and compelled to act. We will remain true to our original aspiration, drive new drug development through source innovation, and serve the vast patient population. Women’s health, endocrinology, and cardiovascular diseases are our key therapeutic areas. We aim to accelerate the translation of advances in human biology into clinical medicine, thereby developing novel therapies that benefit patients worldwide.” Professor Xiao Ruiping further remarked, “Here, I would also like to express, on behalf of the founding team, our gratitude to both new and existing investors for their recognition and trust. We are determined to live up to your expectations and forge ahead with resilience.”

Ms. Tang Yanmin, Investment Partner at Qiming Venture PartnersIt was stated that the ecosystem for innovative drug development in China has increasingly matured, and only by achieving source innovation can China enhance its international competitiveness in pharmaceutical R&D. As a science-driven new drug development company, Herui Pharma has established a solid foundation for collaboration with world-class scientific R&D platforms such as IMM. Undoubtedly, Herui Pharma is a steadfast practitioner of source innovation in China’s new drug development. The company is targeting unmet clinical needs with first-in-class assets and is fully committed to advancing toward this goal. We are honored to partner with such an entrepreneurial company that combines bold vision with strong execution capabilities. Looking ahead, Qiming Venture Partners hopes to deeply cultivate Herui Pharma’s significant R&D potential, helping to accelerate the market launch of its pipeline and ultimately benefit a broad patient population.

Mr. Yang Jun, Partner at Yuanyistated, “We maintain a long-term bullish outlook on the development of China’s biopharmaceutical industry and firmly believe that domestic innovative drug companies can achieve more first-in-class innovations. The team at Hope Medicine, led by Professor Xiao Ruiping, possesses an international perspective and extensive experience. Leveraging a deep understanding of translational medicine, the company is dedicated to the research and development of first-in-class innovative drugs. Hope Medicine’s HMI-115 antibody has demonstrated highly significant efficacy in natural non-human primate (NHP) models, and clinical trials in humans have also shown a favorable safety profile. We are very optimistic about its subsequent clinical advancement and the expansion into additional indications. Furthermore, Hope Medicine’s innovative pipeline in other disease areas enriches the company’s future product portfolio.”

Mr. Ge Feng, Managing Partner of Trust Bridge Partnersstated that after a decade of accumulation, the research and development of innovative drugs in China has entered a spring period of rapid growth. We are very excited about the development of China's healthcare industry in recent years and its long-term prospects, and we are willing to accompany the growth of pharmaceutical companies with true originality. HOPE MEDICINE is a first-in-class drug developer based in China with a global perspective. Trust Bridge Partners is honored to be a founding investor and partner of HOPE MEDICINE. This investment aligns with our vision of developing and providing international standard medical products for the Chinese and global markets.

Mr. Yang Xiaolong, Partner at Innovation Worksstated that Herui Pharma is the fruit of years of dedication by Dean Xiao Ruiping’s team in the frontier field of translational medicine. The company boasts globally leading drug R&D capabilities and a unique experimental platform, having developed a highly competitive product pipeline. We are delighted to have the opportunity to collaborate with Professor Xiao Ruiping’s team and hold strong confidence in the social and commercial value of the company’s products.

Mr. Liu Hao, Founder and CEO of HAOYUE CAPITAL“We are honored to have assisted HOPE MEDICINE in completing this round of financing. HOPE MEDICINE boasts a world-class new drug R&D team, comprising talents across basic research, clinical translation, and commercial manufacturing. The company has always remained focused on addressing unmet clinical needs, refusing to be a follower in crowded therapeutic areas. The New Drug Team at HAOYUE CAPITAL is dedicated to serving the most outstanding drug development teams and the most globally innovative pharmaceutical companies. We believe that HOPE MEDICINE can deliver products with genuine clinical value to patients.”

Qiming Venture Partners, established in 2006, has successively set up offices in Shanghai, Beijing, Suzhou, Shenzhen, Hong Kong, Seattle, Boston, and the San Francisco Bay Area. Currently, Qiming Venture Partners manages nine U.S. dollar funds and six RMB funds, with total assets under management reaching $5.9 billion. Since its inception, the firm has focused on investing in outstanding early-stage and growth-stage companies in sectors such as TMT and Healthcare. To date, Qiming Venture Partners has invested in more than 380 high-growth innovative enterprises, among which over 130 have achieved exits through listings on exchanges including the New York Stock Exchange, NASDAQ, the Hong Kong Stock Exchange, the Taipei Exchange, the Shanghai Stock Exchange, and the Shenzhen Stock Exchange, as well as through mergers and acquisitions. More than 40 of these portfolio companies have become industry-recognized unicorns and super unicorns.

Yuanyi is an independent industrial investment fund managed by a professional team, with Far East Horizon (HK.03360) as its primary sponsor. Far East Horizon owns over 70 medical institutions, offering approximately 20,000 open beds, making it one of the largest hospital holding groups in China. Currently, Yuanyi manages assets exceeding RMB 5 billion and has led investments in a number of leading healthcare companies, including Peijia Medical, Changfeng Pharmaceutical, Zhiben Medical, MicroPort EP MedTech, and MicroPort MedBot.

Trust Bridge Partners, established in 2006, is a leading growth-oriented private equity investment platform. It primarily invests in industry-leading enterprises that redefine their sectors through unique products, technologies, and service models. Adhering to an investment philosophy grounded in long-term fundamental trends—such as demographic shifts, technological advancements, and economic structural transformations—Trust Bridge Partners employs an ecosystem-driven investment approach. The firm focuses on technology-driven industries, including healthcare, education, and lifestyle, with a steadfast commitment to bringing positive changes to people’s lives.

HLC Capital (HLC) is an investment firm focused on the entire “tech-enabled lifestyle” sector, dedicated to serving leading enterprises that provide technologically differentiated products and services for human disease diagnosis and treatment as well as healthy living. HLC has in-depth research and practical experience in the fields of bioengineering, medical devices, personal care, and consumer technology.

Innovation Works is a venture capital firm founded by Dr. Kai-Fu Lee in September 2009, with the mission of helping young Chinese entrepreneurs build world-class companies through comprehensive startup services. Headquartered in Beijing, it has branch offices in Guangzhou, Shanghai, Nanjing, and Shenzhen. Over the years, leveraging its specialized, technology-driven, and internationalized characteristics and advantages, Innovation Works has rapidly become one of the most influential innovative venture capital firms in China. In the fall of 2016, Innovation Works established the AI Engineering Institute, with Dr. Kai-Fu Lee serving as its dean, dedicated to facilitating the translation of artificial intelligence from research to commercial applications and to cultivating talent in the AI field. This dual focus has established Innovation Works’ unique positioning as a “TECH VC.” As a top-tier venture capital firm, Innovation Works primarily focuses on six sectors: artificial intelligence and frontier technologies, automation, B2B enterprise services, healthcare, consumer, and education, specializing in early- to mid-stage high-growth enterprises.

HAOYUE CAPITAL, founded in January 2014, is dedicated to serving as a bridge connecting China’s healthcare industry with capital. Its research and transaction coverage spans multiple sub-sectors, including biopharmaceuticals, innovative medical devices, IVD and precision medicine, healthcare services, and smart healthcare. The HAOYUE CAPITAL team comprises senior investment bankers with extensive experience in China’s healthcare sector. By closely monitoring market dynamics and investment trends in healthcare over the long term, the firm releases weekly healthcare investment newsletters and thematic research reports, offering HAOYUE’s perspectives on new policies and emerging frontiers.